What Is Unemployment?
Unemployment is the condition of a person who is well educated, and capable of working but unable to find a job.
It could be a short-term job, part-time or a full-time job. Even after being overqualified for the job, the person could not get a job as per their qualification.
How Does Unemployment Occurs And Will Unemployment Be Extended Again?
Here are some of the most common but very important reasons that will tell you will unemployment be extended again or not.
1. Increase In Population:
The population is the most important factor in the unemployment rate.
Nowadays, Unemployment news and its effects are well known to us.
The population is increasing day by day but the industrial sectors, as well as corporate sectors, are very few.
So, it is quite impossible to get a job for every candidate.
Various candidates apply for the same post which increases the competition and the over-qualified or experienced candidate only gets the job.
2. Mobility In The Job:
Many candidates are emotionally attached to their families so they candidate avoided travelling to other locations.
Fewer salary also impacts avoiding long-distance jobs. Every time an employee could not shift their family to a different location.
Language barriers and climate can also contribute to job immobility. It affects the physical and mental health of a candidate.
Finally, they could not get any kind of job security in private organisations while handling the pressure.
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3. Lack Of Skills Because Of Job Specialisation:
The employee is willing to work hard by applying his/her skills in the workplace but unfortunately, they can’t.
They can lose their job because of a lack of skills. Most of the candidates don’t have any practical knowledge and experience in the job role.
After completing their education, these candidates demand a job with a good salary.
Because of unemployment, experienced candidates work to secure their job with a few salaries.
These employees have to manage their expenses and they also have to take care of their families.
Most of the time, the fear of ”will unemployment be extended again” keeps them engaged in the job.
4. Inappropriate Economic Growth:
India is an underdeveloped country so, the Indian economy is in an underdeveloped stage.
Due to the underdeveloped country, very few job opportunities can be seen. It fails to provide sufficient employment for the desired candidates.
As the population increases, the demand for employment increases but at the same time economic conditions cannot keep up with the demands of unemployment.
The improper economic growth arises the question of will unemployment is extended again.
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5. Cost Cutting Of Employees:
The market follows the principle of Demand and Supply. The supply for a product increases when the demand for a product boosts.
This is the situation, where the employees are required.
The current market situation is facing the problem of high inflation.
So, people are not showing interest in buying unnecessary things which impacts the storage of extra stocks.
The business owners focus on liquidating the available stock to manage their expenses.
Less demand for the product rises its storage costs. It interrupts the money flow of the market.
So, cost-cutting of the employees can happen and the problems of unemployment occur.
This kind of unemployment news negatively impacts the market and it affects investment and savings.
Effects Of The Unemployment News On Youth:
Research has found that growth in unemployment also leads to increased suicide rates in all parts of the world.
More candidates earn very less income and they are not able to manage their monthly expenses including EMI and bills where inflation rates are high.
The jobless candidates go into depression which affects their mental as well as physical health.
Jobless candidates suffer a lot because they have extra responsibilities and for that, they need a fixed income.
Unemployment doesn’t come with a specific period and also it is unpredictable.
So, we are not sure will unemployment be extended again or not.
Will Unemployment Be Extended Again And If So What Are The Benefits?
The benefits of unemployment for Mathadi, Hamals, and private security guards are as below:
According to Section 3, Maharashtra Mathadi, Hamal and other Manual Workers’ (Regulation of Employment And Welfare) Act, 1969 and Maharashtra Private Security Guards (Regulation of Employment And Welfare) Act, 1981 the State Government reserves a right to pay their monthly wages as per their salary structure.
These kinds of benefits are provided to other workers like; Private school employees, factory workers and all the workers.
According to the Constitution of India, State Government will provide the benefits of unemployment to the jobless candidates.
According to the report of the Centre For Monitoring Indian Economy(CMIE), A massive fall has been observed in employment rates in June 2022.
The unemployment rate has increased from 1.4% points to 8% in rural India.
In urban areas, the rate of unemployment decreased by 0.9% points to 7.3% and this unemployment rate is to be considered the lowest rate.
How To Calculate The Rate Of Unemployment?
According to the CMIE calculator, the unemployment rate is measured by calculating the “Number of persons not employed but willing to work and looking for a job is a per cent of the total labour force.”
The jobless people are suffering a lot and they wanted to know will unemployment be extended again.